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Subject to credit crisis, the Tokyo stock market closed on the 10th plunge is expected on the 13th week likely continue to fall.

Integrated foreign August 10, followed on the 9th U.S. and European markets dramatic decline in the Tokyo stock market closed sharply lower because of global credit crisis began to panic emotional impact of Japanese investors.

The Nikkei 225 index closed down 406.51 points to 16,764.09 points, or 2.4%, the market was active again. Tokyo stocks on the 9th the dramatic oscillation, turnover reached 3.81 billion shares, in November 2005 the highest level since. On the 9th of the index rose 141.32 points.

The Tokyo Stock Exchange, including an all stock, the index fell 49.88 points, to 1,633.93 points, or 3%.

A Tokyo Stock Exchange, 1,445 stocks fell, 235 rose, 44 stocks unchanged.

Traders were traded in speculation, a lot of selling, or from more than one large investment funds, which face difficulties, forced to settle in the Japanese market positions to meet investor redemptions.

A European brokerage houses chief dealer said, which could result in a domino effect, causing more fund selling, on the 13th week the stock market may further decline. He also said that domestic transactions are basically surprised and afraid, maintain sideways.

Since 884.6 07 shipping stocks, metal stocks and steel stocks ranked the worst performers.

The market crash caused the fuse is BNP Paribas (RR) suspended three credit market fund’s net asset value, the reason is the flow completely lost its lead impossible to accurately calculate the value of the Fund. Korean stock market closed on the 10th dropped 1,828.49 points away

Korean stock market closed on the 10th dropped 1,828.49 points away

South Korea on the 10th stock market closed lower by 4.2% to 1,828.49 points, on July 3 lowest close since, also set on May 17, 2004 has been the largest single-day decline.

Integrated foreign August 10, by the global credit crunch worries transferred to inspire investors hedge bond market, the National Bank and other financial stocks led by scrapping, on the 10th Korean stock market closed down 4.2% to 1,828.49 points, on July 3 lowest close since. also set on May 17, 2004 has been the largest single-day decline.

Samsung Electronics and other export shares fell because of fears that the United States suboptimal mortgage loans threatens to undermine South Korea’s second-largest export market for economic growth; Hyundai Heavy Industries plummeted 7%, after the company announced lower-than-expected operating profit.

Week composite index fell 2.6% in line, and since July 26 record high of 2,015.48 points touched has been down 9.3%, 720 billion dollars in market value this disappearance.

KTB Asset Management chief executive ChangIn-whan said that this is a structural crisis, at least October before the market may not be a significant rebound in Danger; Now see more banks expose on the United States suboptimal remanded loan losses related sites, such cases may be difficult to come to an end in a short period of time.

Singapore Straits Times stock index fell on the 10th to 3,359.20 points

Singapore shares Straits Times Index closed on the 10th decline 54 points to 3,359.20 points, or 1.6%, the downtrend by the trend economic growth inhibition.

Integrated foreign August 10 report, before most Asian markets to the United States secondary mortgage issues affected the expansion expressed concern that the Singapore Straits Times stock index closed lower on the 10th of 54 points, or 1.6%, to 3,359.20 points, recovering some early set at 3,318.93. The Nikkei fell 3.4% to 3,298.42 points.

Turnover was basically the same, with 22.7 million shares, on the 8th of 23.9 million shares.

171 shares rose, 736 shares fell.

Dealers said the local stock market on the 13th week volatility may continue, subject to market uncertainties, but the decline may be limited.

But another dealer said the market may from Singapore’s strong economic data buoyed the same time, the Monetary Authority of Singapore (Yam of Singapore) said it would provide liquidity to meet short-term market demand for funds.

Tags：Car insurance economic growth inhibition United States

One, China’s insurance industry in the history of the development 

Early Qing Dynasty China and the previous few years, due to the natural environment, economic conditions and long-term centralized rule, a decision could not have ancient China as Western countries to establish such a modern insurance system, until the late Qing Dynasty imperialist invasion, the only Western insurance system into China . From the Opium War broke out, China reduced semifeudal and semicolonial society, foreign insurance companies to enter China, and has been in China’s insurance market dominant position. In old China, the nation

Although the insurance industry has developed, but has not been able to free themselves from foreign domination of the insurance company. After New China was founded, the situation changed radically, foreign insurance companies monopoly status has been completely shattered, but after rectification and development, regression and tortuous process. Until the Third Plenum of the 11th Party, the country’s reform and opening up policies that made China’s insurance industry usher in a new period of development.

(1) Old China’s insurance industry 

In China, the budding insurance Although very early, but in the modern sense, with commercial insurance British imperialist invasion and the economic input. In the past the Opium War in 1840, the Qing government to pursue the “closed door” policy, foreign trade is limited to one in Guangzhou. In 1805, China’s trade operators of British businessmen established in Guangzhou the “Guangzhou insurance societies”, which is established in China with foreign insurance companies first. In 1835, British businessmen in Hong Kong, “security companies.” After the outbreak of the Opium War, in 1842 the Qing government ceded Hong Kong to Britain, the imperialist capital importation to China as a major economic aggression means. From the 19th century the 1970s, the British began in Shanghai Yangtze insurance companies, the Chinese insurance companies, solar companies, the Rambler insurance companies. 

China’s first insurance company in the city in 1876 is the establishment of the China Merchants charities and insurance companies, and this is China’s first national capital companies. In 1878 and set up a relief and insurance companies. These two companies merged in 1885 to Yan Chai and insurance companies underwriting China Merchants all vessels, warehouse and cargo transport, which is China’s insurance sector now recognized China’s first national capital insurance companies, marking China’s national insurance industry start. 

World War I in 1914, after the outbreak of war in the imperialist countries are busy, temporarily relaxed to China’s economic aggression, therefore, China’s industrial and commercial enterprises to rapid development and the resulting insurance to the more pressing needs. At that time, foreign insurance companies in China in addition to security, the Yangtze part of the two companies also continue to stay in business outside Shanghai and the rest are at the closure of the basic state. At this time, the United States abroad Insurance Association established in China, the United States formed a dozen large foreign insurance companies operating groups. To meet the insurance needs of China in 1916 established the environmental insurance companies, insurance companies and Watson Yongning insurance companies, in 1917 established a Wing On insurance companies, a preliminary form of Chinese private insurers camp. Due to weak capital strength, business scope and wide, external little impact. 

Before the founding of New China in the development of China’s insurance industry’s heyday in the 20th century to the 1930s, Shanghai, China and the Far East as the largest financial and insurance centers. According to historical records, the Western capitalist countries in order to shift their domestic economic crisis, China is dumping large quantities of surplus supplies. China’s national industry and commerce difficult for the enterprises to develop the follow-up funds, businesses have to goods and materials as collateral to secure bank loans. To protect the borrower in borrowing during disasters and accidents suffered economic losses when their ability to repay loans, the banks generally require mortgage insurance to be property. In addition, as the first revolutionary war, the Mainland rich merchants have taken refuge in Shanghai with money, causing liquidity soars in Shanghai, and to the banking and insurance industry concentration. These two factors make the 1930s the financial industry in Shanghai showed unprecedented economic prosperity. According to statistics, Shanghai in China before 1937 175 private insurance companies, foreign insurance companies about 50, the premium income of foreign insurance companies only 1 / 10. At that time the country for the annual premium income of 30 million paper currency, foreign or approximately 60%, but China’s private insurance companies to 70% to foreign reinsurance, the actual premium of just over 300 million paper currency. The vast majority of Chinese private companies to become agents of foreign insurance companies, large premium income of foreign insurance companies into the pockets. It can be said that before liberation of the Chinese insurance market, foreign insurance companies at the monopoly, not only in the original insurance market rates and terms for foreign monopoly, and almost all in the hands of foreign companies in China’s reinsurance market. 

Before the liberation, the development of the insurance industry to be another reason why the old Bank of China’s bureaucratic capital continued involvement of the insurance industry. In November 1931 the Bank of China set up a funded insurance companies in China; In 1933 China established insurance postal remittance, using its nationwide network to sell insurance products, franchised simple personal insurance; In October 1935, the Central Bank allocated to the capital from the Central Trust of China established the Insurance Department; 1941 the Agricultural Bank of China, the establishment of China’s agricultural insurance company; in 1943, the Bank established a Pacific Insurance. These bureaucratic capital through the establishment of the insurance companies, not only has the advantages of capital, but on the business and bureaucratic With inextricably linked and made high profits. For example, the Central Trust of China Insurance Department in October 1937 by the KMT commissioned by the Ministry of Finance official cover “transport soldiers and dangerous” (1940 to “transport soldiers in wartime risk), due to move into the property of war materiel provided economic security. Japanese aircraft bombed frequently, the “wartime transport soldiers risk “rates higher, the highest 10%. in December 1939 the Ministry of Finance again KMT commissioned Mutt manager for the Department of Insurance “wartime soldiers dangerous land,” their underwriting are mostly factories and warehouses, and some designated shops, ferry and other important facilities for the aircraft bombing, shooting , air and air defense artillery and spy, spy throwing bombings, arson damaged as a result of the compensation for property losses. the basic rate of 4%, these are his goal of the Department of Insurance has brought a large number of the profits. As of 1942, only two on this to bring his goal of the 76.583 million yuan premium income. some other national banks have some capital has begun to enter the insurance industry, such as Kincheng opened fire Taiping insurance companies, but these companies regardless of size or capital in the business are in the weak position. 

(2) After New China was founded in China in the insurance industry developments 

The birth of the People’s Republic of China opened a new era in Chinese history, China has opened a new chapter in the history of insurance, the insurance industry into the development of the socialist track for the cause of building socialism and the people’s welfare services. 

The development of new China’s insurance industry, the first is consolidating and transforming the old Chinese insurance industry and the insurance market began. 1949

After the liberation of Shanghai in May in Shanghai technocrats to take over the Committee of Finance and Economy Office, established under an insurance group that is responsible for taking over the bureaucratic capital of insurance institutions and management of private insurance companies. The total time taken over the bureaucratic capital of insurance institutions 21, the implementation of the Commissioner of two. The private insurance industry was re-registered and paid into the bond, after approval to resume business. Then resume the Chamber of 63 insurance companies, 42 foreign insurance companies. Before compared with merchants to reduce the insurer 2 / 3, foreign insurance decreased by 1 / 3, to eliminate a lot of speculative companies. On June 20, 1949, China resumed the insurance business, in going through foreign reinsurers. After the Cabinet approved the Financial and Economic Committee, the People’s Insurance Company of China on October 20, 1949 in Beijing set up, a sign that the new Chinese insurance industry from the development began. 

To revitalize the national economy, China stipulated by the insurance company separate external reinsurance business, it is because the Chinese insurance company’s internal organization and systems and insurance strong technical force, and with a number of foreign institutions. On foreign investment in insurance companies to take the first step to promote their joint ventures, with 47 companies participated in the “NLD reinsurance Exchange Office,” This will cut off its foreign companies and the reinsurance relationship. With state-owned foreign trade system and the new customs established by the State recruited foreign trade, foreign insurance companies fail to recruit business, the closure of all applications, to the end of 1952 and early 1953 are 28 private companies engaged in the composition of a joint peace and 36 insurance companies, in 1956 that two insurers merged into Taiping insurance companies, overseas franchise business. 

The establishment of the People’s Insurance Company of China, its main operating business is fire insurance, and transportation insurance, coastal ports and transport soldiers also underwriting risk, and stressed the insurance must be combined with fire. Meanwhile, the old insurance system has made a series of reforms, the revision of the insurance policy, to expand the scope of the insurance responsibilities, lower rates and simplify the procedure. On February 3, 1951 the Central People’s government formally promulgated by the Democratic People’s Republic “of the state organs and state-owned enterprises, cooperatives and property insurance compulsory visitors compulsory insurance decision.” The national economic recovery period, the Chinese People’s Insurance Company ran the group and individual life insurance, the State organs and state-owned enterprises and property insurance compulsory passenger accident insurance, insurance and transportation of materials for transport of cotton purchase insurance. Entered a “five-year plan”, the People’s Insurance Company of China in the sector was restructured and streamlined, and to implement the voluntary principles for the agricultural insurance business, closed a part of the compulsory insurance, and the consolidation of business on the basis of the pilot some new business. In January 1958 to convene the sixth meeting of the National Insurance Work Conference, decided “to actively rural insurance for livestock insurance, focusing on the pilot crop insurance, urban business to actively develop personal insurance and property of citizens insurance, the state-owned enterprises continue to operate the property of compulsory insurance and transportation insurance.”

Also decided at that time except compulsory insurance business travelers insurance delegated to the provinces and cities all operate independently, self-financing. 

According to statistics, from 1949 to 1958 the 10-year period, all kinds of premium income totaled 1.6 billion yuan, a total of 380 million yuan to pay compensation, in addition to the state, the accumulation of 400 million yuan of insurance funds, allocated 23 million yuan prevention costs, the balance of the funds are deposited in banks, as credit - the use. During this period, the cause of socialism insurance made gratifying achievements, the completion of the private insurance industry task of the socialist transformation, the country has set up a relatively complete socialist insurance system, the establishment of a universal insurance agencies, the enactment of new regulations, restoration and operation of many businesses , and trained a large number of insurance cadres, and with the majority of the world’s countries and regions to establish direct or indirect relations and the division of damage, loss vessel inspection agent relationships. However, as founder of the socialist experience in the insurance industry inadequate conduct insurance business in the process made some missteps, such as the implementation of the principle of voluntary insurance enough, in order to complete business goals, once in some rural compulsory insurance, the central halt after only will be corrected. 

Due to the positive role of insurance awareness in 1958 of the National People’s Commune upsurge mistaken belief that “a sophomore public,” and the old invalidity of Health and disasters from all national and collective packets down, the insurance in China has completed its historic mission.

In October 1958 in Xi’an held a national work meeting of Finance and Trade’s decision to suspend the domestic insurance business, foreign insurance business into China for foreign Bureau, the establishment is set at 30. Visitors 14871 respectively to the railway, civil aviation and transportation departments captive. Domestic insurance nationwide closure of 20 of the results, and information on a large number of separated and widened the gap with foreign countries, which was later restored when the insurance business, insurance has become a must rescue subjects. Long-term insurance business was discontinued for many reasons, the historical reason is the economic management system and the “left” approach to economic and subjective reasons for the in-depth study is not the socialist theory insurance, without insurance socialist theory to ascertain the nature, status and role. 

The Third Plenum of the 11th Party and after restoration of order, in 1979 the National People’s Bank branches session to resume domestic insurance institutions and operations. Approved by the State Council, domestic insurance business from 1980 onwards resume, which makes China’s insurance was born. In 1982 the State Council, People’s Bank of China transferred “for the resumption of domestic insurance business and the future development of the views of” the notification sure insurance “is a beneficial for the nation, the national economy is an indispensable part.” Under the “production services for the masses services and the voluntary principle” to run the enterprise property insurance, family property insurance and motor vehicle insurance business. According to the State Council, China People’s Insurance Company since January 1, 1984 onwards separated from the People’s Bank of China, directly under the State Council as a separate bureau level of economic entities. In 1985 the State Council promulgated the “Provisional Regulations on the management of insurance companies,” the People’s Insurance Company of China and the nature of business activities and provided for the establishment of a multi-level system of insurance provided.

Since the resumption of domestic insurance business, domestic and foreign insurance business has developed rapidly. In October 1986, the restoration of China’s first integrated a joint-stock banks — the Bank of Communications opened shortly after its branches in Shanghai launching insurance business, thereby breaking China’s insurance market exclusive business situation. In April 1991, formed the China Pacific Insurance Company. In March 1988, approved by the People’s Bank of China, Shenzhen China Merchants Shekou Industrial Zone and other units set up the joint venture China’s first joint-stock insurance companies — Ping’an Insurance, in September 1992, the company changed its name to China Ping’an Insurance, regional operators to expand the country, as I ARTICLE 3 national, comprehensive insurance companies. The 20th century 90

After that, the insurance market has developed rapidly, Volkswagen, Wa, Xinhua, Taikang, China and Thailand is one of the national or regional professional insurance companies to enter the insurance market. In 1992, Comrade Deng Xiaoping’s southern tour of the important speech made by China’s reform and opening up a new situation, the insurance industry began opening up. “American International Group”, a subsidiary of insurance company American International Assurance (AIA) and Japan’s Tokyo Marine Fire insurance companies and more foreign insurance companies operating in China allowed. While the WTO, China has approved 15 foreign insurance companies operating addition, it also approved the six foreign insurance companies to enter the Chinese insurance market business planning agencies. At the end of 2002, China’s number of insurance companies to 54, insurance intermediaries 127, insurance agents, 70,000 more than 230,000 employees in the insurance, the insurance total assets of more than 600 billion yuan. 

As the national economy develops, and the insurance market in the main, sustainable development of China’s insurance business. The types of operation, from the early resumption of the domestic business of the dozens of traditional types of development, including today’s credit guarantee insurance, liability insurance of nearly 1,000 lives. Insurance on the scale of development, the premium income to increase year after year. From 1980 to 1985 a total premium income of 8.5 billion yuan; In 1996, premium income increased to 75.6 billion yuan; Premium income in 1997 reached 108 billion yuan; 1999 premium income has increased to 1,393. 200 million yuan; In 2002, China’s insurance industry is developing rapidly, the premium income of 300 billion yuan . 

The insurance market system with the establishment of business development, a mainly to government regulation, industry self-regulation supplement insurance market regulatory system is gradually set up and improved. June 30, 1995 “PRC Insurance Law” officially promulgated, and on October 1 officially implemented. “Insurance Law” since the founding of New China’s first insurance law, its insurance company, insurance contracts, insurance operating rules, the insurance industry and the regulatory agents, brokers, etc. on the more detailed requirements. “Insurance Law” promulgated, a sign that the new Chinese insurance market supervision of the legal system entered a new stage of development. On October 28, 2002, the Ninth National People’s Congress passed the 30th meeting on revising the “Insurance Law” decision to revise the “Insurance Law” in the January 1, 2003 implemented.

Tags：Car insurance economy develops the socialist theory insurance

One, the American Automobile insurance 

The United States is the motor insurance with the auto industry and the development of the insurance industry and develop. In 1898, the United States issued travel insurance companies in the first one-vehicle injury liability insurance alone, in 1899 auto collision damage insurance was introduced in 1902, an automobile insurance losses there. Since then, the American Automobile insurance developed rapidly in a short period of nearly 100 years of time, the American Automobile insurance business volume has been ranked first in the world. 

(1) loss of the American Automobile insurance 

The United States is divided into personal automobile insurance and commercial automobile insurance two types of car insurance. 

1. Personal automobile insurance 

The United States issued a personal injury automobile liability insurance is the single personal automobile insurance. Personal automobile insurance underwriting private passenger car owned by individuals and families. The personal automobile insurance policies, personal lease rental period for more than six months of vehicles could be “by insurers, the” means of transport on behalf of the insured. 

Personal automobile insurance policy is a package of policies, in an underwriting insurance policy while the insured vehicle of the liability risks and material losses. Insurance group and single standard contract includes three basic components. First, “the insurance application forms,” including the number of policies, the insured person names and addresses of the insurance period, the description of vehicle insurance, the limits of liability insurance and deductible. Two is the “general agreement” stipulates : “When you pay a premium and comply with this policy, we agree with underwriting.” Here the “we” refers to insurance, “you” refers to the insured person. Usually these words as the foreword and policies in the insurance premiums paid to insurance after people began to fulfill their obligations. 3 is the definition. The terms of the insurance policy of some frequently used terms and definitions for explanations. 

Personal automobile insurance coverage include : liability insurance, medical insurance costs and prevent uninsured drivers insurance and Ohio. Following losses on auto insurance show. 

(1) Coverage : insurers in the insurance underwriting vehicle accidents suffered by the direct loss, but to deduct insurance policy enshrined in the specified amount. Moreover, apart from the car insured losses suffered when the car insured losses from theft, in a stolen car insurance to 48 hours after the vehicle was located by insurance or insurance to pay compensation insurance, insurers are required to pay a certain amount of compensation for transport costs. The compensation fee of about 10 US dollars a day, up to an aggregate amount of payments to 300 US dollars. 

(2) loss of vehicle insurance adopted cited law, the insurer agreed except responsibility. 

(3) the compensation : the insurance people can use monetary compensation or using repair, replace damaged or stolen property damage insurance recovery mode subject. Meanwhile, insurers can use their own costs to return stolen property insured persons or their restitution to insurance recorded address, or by agreement and the public guessing the price of retaining stolen property in whole or in part. 

In addition, the compensation insurance in the amount of stolen or damaged property and the actual cash value of the repair, replacement property stolen or damaged amount of the fee, whichever is the less. 

(4) Valuation insurer and the insured, if not on the amount of loss to reach an agreement, the two sides can assess their chosen public, chosen by the public guessing jointly selected the first three public guessing, and from this three public guessing common winds. 

(5) the insured person the obligation : insurance after the accident, the insured person under the provisions of the insurance contracts to do certain obligations. Such as : the insured person shall immediately notify the insurer or its agents of the accidents occurred on the time, place and after; Provide insurance-related incidents in the paper and to help insurers accident investigation; Insurance after the accident to take the necessary measures to prevent automobile insurance or other equipment to expand the occurrence losses; the insured car theft, shall immediately notify the police. 

(6) the insurance subrogation right : insurers pay insurance claims, that the right to recover the third person. The insured must be the third transfer of the rights to the insurers, and to take the necessary measures to preserve the rights of recovery, especially the insured person shall be without prejudice to the exercise of insurance subrogation right. 

2. Commercial motor vehicle insurance policy 

In the United States, most agencies have woven, leasing, or renting a car, the car ownership, maintenance and use of the process of liability insurance as its universal risk of loss. Thus the insured vehicle liability insurance for most organizations as the basic needs of commercial vehicle insurance is most often used in the form of the insurance services provided by the Office of commercial vehicle insurance. 

In addition to providing liability insurance, commercial auto insurance policy also includes optional provisions. All car insurance, leasing and insurance to be given to the employee who caused material damage. For example, in no-fault, no insurance, the insured car and inadequate medical expenses under other company to provide protection to be granted accession to the original single form of insurance policy. 

Commercial auto insurance structure of the personal automobile insurance policy framework different. Commercial automobile insurance policies only cover liability insurance and vehicle insurance losses. Following losses on auto insurance its main elements : 

Coverage : car insurance losses include comprehensive insurance losses (insured vehicle for any reason caused by the loss of per capita pay insurance liability, but collisions with other objects or overturning except) specific reasons for the loss of insurance (by fire or explosion, theft, snowstorms, ice or earthquakes, vandalism, car insurance to transport tools sank, fire, collision or derailment) and the collision damage insurance three types. 

Auto insurance losses and compensation deal with the same personal auto insurance. 

In addition, the insurers to repair and return or replacement of damaged or stolen payment of the insured car, the insurance must apply as single positive schedules recorded specified amount. However, the comprehensive loss insurance for the specified amount of discomfort and lightning fires caused by the loss. 

Commercial automobile insurance policies and other important items personal auto insurance policy is basically the same. 
(2) mandatory auto insurance 

1. The American Automobile mandatory liability insurance 

In 1919, Massachusetts the first legislative requirements to all vehicles must be registered in the registration, insurance or bonds as a vehicle accident at the ability to pay guarantees, the bill has been called the “ability to pay security law.” 1927

Massachusetts, the first state to adopt a mandatory automobile liability insurance; In 1956 New York state legislative implementation of the compulsory insurance, and the following year the North Carolina State also adopted corresponding laws. Since then, mandatory car insurance began prevailed in the United States. 

Compulsory Automobile Liability Insurance Act is “compensation guarantee” of evolution, but also “compensation guarantee” the ultimate purpose of legislation more specific. “Compensation guarantee” only require vehicles to provide the ability to guarantee compensation, but compulsory automobile liability insurance law emphasizes the use of auto insurance liability for the performance of the best guarantee. 

2. Guarding against uninsured drivers insurance 

The United States insurance industry generally that the car owner or driver because of a car accident caused by the injury itself can be attributed to the same driver of the other vehicle, if the other party without ability to pay, with a strike against the other uncertain or adequate compensation, it is better to have recourse to insurance. The insured pay a small premium, they could get sufficient and to determine the amount of compensation. In 1957, New Hampshire the first state legislature this concept into law, because the results are more satisfactory, other states have followed suit. 

3. No-fault insurance scheme 

No-fault auto insurance is in the accident, the parties to abandon the accident blame for the controversy attribution to their insurance companies request insurance coverage, the American Automobile insurance for one of the characteristics of the system. In 1970, Massachusetts passed the first no-fault auto insurance legislation, the first to implement such a system. No-fault auto insurance, including no-fault entirely, that the no-fault and no-fault additional three categories. 

No-fault payment does not include property losses (loss of property loss is usually limited to vehicles), if the victim is the loss of property caused by the perpetrator, the victim may lose some of its direct request for compensation to the perpetrator. 

Two Japanese auto insurance 

Japan’s auto insurance was created in 1914. Since 1947, the insurance companies use a unified general insurance clauses and premium rates. In 1948, Japan established the damage to determine insurance rates, enacted in 1955 to protect vehicle damages, in 1964 the establishment of determining auto insurance rates Association. In December 1996, Japan and the United States reached agreement on insurance, from September 1997, the Japanese sub-risk car insurance, in July 1998 with diversification rates. From then on, Japan entered the insurance premium rate products and diversification of an era of competition. 

Japan’s auto insurance system including compulsory automobile liability insurance with two arbitrary auto insurance system. Mandatory auto liability insurance in 1955 on the development of “automatic vehicle damages Security Act,” as a legal basis. The insurance provides the most comprehensive auto insurance and car insurance arbitrary complementary, constitute the most complete Japanese auto insurance. 

(1) compulsory automobile liability insurance 

1. “Automatic vehicle damages Security Act,” the main elements for the implementation of the Compulsory Motor Vehicle Liability Insurance, Japan “automatic vehicle damages Security Act” stipulates that the insurance company unless the provisions of the decree are justified and shall not refuse to make liability insurance contracts; Absence of motor insurance contracts cars vehicles may only; did not participate in compulsory automobile liability insurance, are not allowed to drive cars. Auto-鍌欑疆damage liability insurance certificate shall provide operations. Otherwise, once discovered, sentenced to six months in jail, or a fine of 50,000 yen. Such strong sanctions, and strict and effective supervision and inspection, effectively guaranteed the implementation of compulsory insurance. 

Meanwhile, compulsory automobile liability insurance and vehicle inspection system integration. According to Japan’s “road trucks Law” stipulates that car owners applying for motor vehicle registration, licensing or inspection operations such matters, the Office of the Chief should produce certificates of insurance, not to produce an insurance certificate or certificates of insurance records on the insurance period not covered car inspection certificate or temporary operating permits effective during the period, the Office of the Chief login or not the issuance of permits such checks. 

2. Using fault either pushed Custom

Custom fault pushed victims in the wake of the accident without the burden of time, the presumed perpetrator directly fault. In addition, no vehicle insurance or escape vehicle accident caused by the accident, the car automatically damages Act fifth chapter for compensation by the government, serve to protect innocent victims of the third objective. 

3. Government insurance policy 

“Automatic vehicle damages Security Act” stipulates that the insurance companies underwriting compensation insurance from the insurance contract, in addition to light locomotive, by the government on their underwriting amount of 60% for reinsurance. Japan to build a system of reinsurance, with the aim of further through the national insurance system, insurance companies spread the risk, to encourage insurance companies to provide this service. 

(2) arbitrary automobile insurance underwriting projects 

1. Dead body injury liability insurance losses 

All insured, use, management of the insured vehicle, causing grievous bodily harm or death, according to the law should be the responsibility of the insurance company liability insurance on the contract agreement for compensation. 

2. Motorist who either injury insurance

The insurance automatically attached to the physical injuries died loss liability insurance, the insurance underwriting result was insured vehicles running when the accident happened outside, causing physical injury, death losses. 

3. Without insurance car insurance either injury

Uninsured car accidents, causing insured human death or injury, the insured person insured to be compensated for the amount of insurance within the insurance company responsible for compensation from the insured losses. Compensation Insurers, the insurance payments within subrogation of the insured person perpetrator of the right to claim damages. 

4. Property damage liability insurance 

In addition to car accidents caused the injuries and death, may also be a car collision, the collision of housing, construction and property losses. Property liability insurance establishment of the elements must be visible from the car by accident suffered material damage. 

5. Auto insurance losses 

Car insurance is compensation for losses due to car accidents causing loss of vehicle insurance itself. The accident is a collision plunges, capsized and threw objects or the impact of falling objects, fire, theft and all other accidents. 

6. Passengers hurt insurance 

Passengers hurt in the insurance underwriting insurance in a moving vehicle occurred outside the unexpected accidents, causing its passengers were injured or killed due to the losses. 

3, the Motor Insurers 

(1) single-vehicle insurance types

Motor insurance policies include the following three parts : the 

1. Auto insurance losses 

2. The third vehicle liability insurance 

3. Medical insurance costs 

(2) loss of vehicle insurance category 

The above-mentioned three other risk can be insured by the following arbitrary one : 

(1) Consolidated loss risk include : loss of vehicle insurance, auto liability insurance, medical insurance costs; 

(2) a third person, fire and theft insurance : auto insurance losses of the relevant provisions of a third person and vehicle liability insurance; 

(3) the third person liability insurance, only the third automobile liability insurance. 
(3) loss of vehicle insurance terms 

Motor insurance underwriting loss of two terms, the insured person can arbitrarily choose one : 

(1) is “insured vehicle or its parts, accessories suffered damage or loss, the insurance company can be responsible for liability.” 

The types of coverage in a comprehensive manner, the insured person should be particular emphasis on the non-related matters. Not common security matters including : 

① enemy invasion, acts of foreign enemies, war and similar acts of war, insurrection, civil war, military training, exercises or organs of the government expropriation, confiscation, expropriation, seizure or destruction; 

② nuclear reaction, radiation or radioactive putting pollution; 

③ strikes, riots, civil harassment; 

④ without the consent of the insurer and the nature of the change vehicles; 

⑤ underwriting areas outside the damage; 

⑥ addition to license drivers, the other person as a result of accidental loss or liability; 

⑦ in the insurance contract, no additional insurance in respect of any contractual liability. 

Meanwhile, the Hong Kong Automobile insurance fee reductions without compensation system and self terms. 

Hong Kong has no compensation fee reduction divided into five : a full year without compensation, according to the renewal premium by 20%; After two years without compensation, according to the renewal premium by 30%; Likewise, continuous period of at least five years or more, by 60%; In addition, the Hong Kong Automobile Insurance Policies, for four consecutive years and five years without compensation, the insurance period ended, only one award, renewal when considered in a full year without compensation and for two years without compensation, according to the renewal premium by 20% and 30% discount; This pair of consecutive 45-driving awards outstanding compared to a reasonable and fair insurance will not be a compensation for loss of all the concessions.

Excess refers to the insured person in the accident itself after the loss. Non-published by the office of a driver’s car caused the losses : 1,000 Hong Kong dollars; Car insurance was suspended at the state or theft or attempted theft for the losses : 1,000 Hong Kong dollars; Floods, typhoons, hurricanes, volcanic eruptions, earthquakes or other natural disasters caused by the loss : 500 Hong Kong dollars; by the age of 25 or provisional license holder or holders of a driver’s license for less than two years were caused by losses : 1,000 Hong Kong dollars. 

(2) is “insured vehicle due to fire, spontaneous, lightning, explosion, theft or theft caused by the intention of damage or loss, the insurance companies are liable for.” 

The list of types of methods used underwriting. Referring to the incidents of theft or loss of attempted theft for the losses, and includes separate parts stolen loss. Including the so-called snatch theft. 

Hong Kong theft for the losses of 1,000 Hong Kong dollars set Excess compensation standards. 

(4) mandatory automobile insurance 

In 1951, the Hong Kong government to imitate the British government’s compulsory automobile insurance, promulgated the “car insurance (third risk) regulations.” Motor third person liability insurance Since then become mandatory insurance, but still fault-based liability insurance. The legislation amended several times, most recently amended in 1983, which explicitly states that “no people on the road use or permit the use of cars, the third person to be insured liability insurance or provide 400,000 Hong Kong dollars of bonds, for the violations, punishable by ten thousand Hong Kong dollars in fines and criminal detention 12 months, suspension of driving license for 12 months to three years. ” 

Motor mandatory insurance coverage is : “The Company will continue the liability limits and jurisdiction provisions of the restriction on the car insured or non-insured person is driving or rent to themselves or their employers or their partners by a motor vehicle accident occurred, to any person’s death or injuries and property damage, according to insurance law should be liable for compensation but by the request, the company insured for liability “;” according to the company the liability limits and jurisdiction provisions of the restriction on any permit or drivers who were invited to take insurance or car insurance from top to bottom by the people, by the insured vehicle or its Working on the outside caused by accident, to any person’s death or injuries and property damage, according to the law shall be borne by the insurers liable for the compensation which the request by the company for the insured liability. “

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Compulsory motor vehicle accident insurance ( “TAC - risk”) and the consumers are familiar with the motor vehicle third party liability insurance (that is, “three responsibilities and dangerous”) in the types of insurance the same one lives were road traffic accident victims third parties to obtain timely and effective compensation types. Pay-only insurance is a statutory mandatory, in fact be called “mandatory three select and dangerous”, and three of the past are responsible for insurance commercial.

Pay-insurance and commercial insurance in three select the principle of compensation, compensation, etc. There is an essential distinction

1, 3 select commercial risk is the fault of the principle of the responsibility, according to the insurance company that insured the accident which bear the responsibility for the accident to determine its liability. Transport strong risk for a “no-fault liability” principle, regardless of whether the insured person responsible for the traffic accident, the insurance company will be in the 60,000 yuan within the limits of liability compensation.

2, for effective control of risk that the commercial risk provisions select three more responsibility for the matter and remove Mianpeilu: (turnover). Transport-risk liability insurance cover almost all road traffic risks, and are not based Mianpeilu: deductible, the scope of protection is far greater than three select commercial risk.

Three, three commercial insurance is responsible for the purpose of profit, the commercial insurance business. Pay-risk and not for profit purposes, the company engaged in pay-risk operations will be implemented with other commercial insurance business separate management, separate accounts, regardless of profit and loss, do not participate in the distribution of benefits, the company has actually played a role in a charge d’affaires.

4, the three companies responsible for commercial insurance rates in terms of mutual differences, with 50,000, 100,000, 200,000 or even one million yuan over the different grades of liability limits. Transport strong risk of liability limits of national reunification of six million, and the implementation of a uniform nationwide insurance terms and rates based.

If consumers pay 60,000 yuan-risk unable to meet their own security needs, through voluntary purchase of commercial insurance select three ways. Three select commercial insurance products and not with reference to the emergence of strong, dangerous and disappear from the market, the two are mutually exclusive.

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The purchase of a car, more and more people familiar with the new procedures but not people, more than a few owners of the club for their choice of insurance often loss. The face of the numerous types of insurance premiums in different insurance companies, how to go about choosing the most suitable for their vehicle insurance products? This year, the insurance market some new regulations published, the owner had to choose the types of inputs and whether there are changes? I recently interviewed a member of the profession, how to choose new address both the economy can be fully protected insurance products for the advisory.

■-risk must pay to buy

Involved in automobile insurance Fengxiaojie said that under the “motor vehicle accident mandatory insurance”, from July 1, 2006, all new vehicles and insurance due to the renewal of vehicles must buy pay-risk vehicles. Private cars premiums for 1,050 yuan, 1,000 yuan for enterprises, institutions, government organs to 950 yuan, the insurance company will be based on vehicle sales invoices judgment.

Because most of the corresponding car driver greenhorn, a relatively high rate of escape from danger, so insurers are generally unwilling to provide significant discounts for new cars. But those involved doctors, journalists, bank employees, civil servants and so on the specific work of professional staff, the insurance company that their escape from danger rate will be lower than ordinary cars, it will also have certain concessions, discounts are below 8%.

■ new types should be “perfectionist”

In addition to national compulsory purchase of the hand-risk, the new owners need to buy some essential business types, including Ohio, three select insurance, sickness, car insurance and other personnel.

The price of 15 million vehicles for example, the people in Ohio for 2,956 yuan, three dangerous owners can select according to their needs, choose 50,000, 100,000, 150,000, 200,000 different amount. Three select insurance under the different models, the higher the premium vary, the most common of the following six passenger cars, the amount of 50,000, the premium is usually around 800 yuan; The insured amount of 100,000, around 1,100 yuan premiums; The insured amount of 150,000, around 1,200 yuan premiums. Paula is based on the price of the vehicle insured for the conversion price of 150,000 cars premiums for about 900 yuan. Besides your purchase of a new car to attract the attention of passersby, but also attracted the attention of thieves, it is proposed insured luck, of course, if a car parking place of good security measures, in your opinion, safe and reliable, we can also consider not insured. Board staff more dangerous vehicle five individuals in accordance with the terms, the amount of 5,000 yuan and 10,000 yuan two, the premium of 100 yuan, 200 yuan.

■ buy additional types of discretion

Owners can also his own car on the actual conditions and use of targeted select additional risk. Those categories include : broken glass separate insurance, risk scratch, excluding insurance and other two systems. If your club frequented traffic chaos to the market, the club Scratched paintwork becomes easy to finish, you can consider buying a scratch risk. If the club had parked in the car park adjacent to construction sites, there are often flying in the small stones, your windshield also is not cheap, it is recommended that you separate the insured risk a broken glass, in order to avoid economic losses. In addition, the hot summer weather, prone to spontaneous combustion vehicle, you ample economic conditions in the case of spontaneous combustion can also buy insurance, so as to be prepared.

To remind everyone that the new novice inevitable squabbling, the frequency of incidents are relatively high, therefore, insurance experts recommend the owner, if it is used to purchase installments of a new car, you must request by the acquisition of all-risk insurance; If you are using all the means to buy a new car, you the who is a novice in order to cut losses, in addition to considering the purchase of spontaneous loss risk all of the insured contents.

■ small insurance companies to election

In determining the selection of the types and availability of concessions, the purchase of 62.69 in the process of how to choose insurance companies, the purchase process should also pay attention to what issues? The industry proposal, if your car is a new one, but the price is relatively high, the big companies can choose 62.69. Because of the more high-end cars, repair costs are also higher, in the event of accident, that may put greater pressure on the economy, while big corporations relative to the amount paid will be higher, sentinel maintenance plants have a relatively high level.

However, the premiums paid, in general, the same models and types of large companies than small companies premiums high. If your car is old, or the price is not high, the cost of repairs will not be very expensive, and your driving skills are more mature, small companies choose more worthwhile.

Also, experts remind policyholders, if you go out to the trucks by 2006, then they should try to choose like people in a safe so big insurance companies to insurance, because the insurance companies have branches throughout the country, encountered trouble immediately on the ground for determining loss, such as the loss adjuster. Moreover, experts suggest that the insured 62.69 owners should not just focus on price, should combine their own cars to the actual situation to decide, for example, whether by 2006, the designated person driving, integrated escape from danger by the services they need.

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Auto insurance process, we should follow the basic principles of insurance law is the basic principle that the insurance law embodies the spirit and essence of the basic principles it is based on the insurance legislation, the insurance activities must adhere to the guidelines. Insurance law is a fundamental principle of insurance law adopted by the specific provisions to achieve, and the Insurance Act to the specific provisions must comply with the requirements of basic principles. 

One, insurance and disaster prevention detract from the principle of combining 

Insurance fundamentally speaking, is a risk management system, for the purpose of risk management to prevent or reduce the risk of accidents and dangerous incidents caused the loss narrowed to a minimum, resulting in the insurance and disaster prevention derogation from the principle of combining.

(1) insurance and disaster prevention on the principle of combining

This principle will apply mainly to the insurance before the accident occurred prior prevention. According to this principle, insurance underwriting side should responsibility for the risk management of its specific contents include : investigation and analysis of the subject of the insurance risk, according to the insured made reasonable proposals prompted insured party to take preventive measures and carry out supervision and inspection; Insured parties to provide the necessary technical support common improving preventive measures and equipment; on different sides of the insured differential rate system to encourage them to strengthen the management of dangerous incidents that the accident less reputable side, to reduce insurance premiums are available; Instead, such as raising premiums. Following this principle, the insured parties should abide by relevant state fire, safety, production operations, labor protection and other aspects of the initiative to safeguard the security of insurance subject to fulfill all, the manager is the bounden duty; Meanwhile, according to the insurance contract, perform risk notification obligations. 

(2) insurance and detract from the principle of combining 

This principle will apply mainly to the insurance after the accident occurred after the derogation. According to this principle, if the accident occurred insurance, the insured parties should do their utmost to rescue actively avoid the accident spread, extending losses escape from danger and to protect the scene and promptly reported to the insurer. And the insurance side by assuming the rescue, and other reasonable expenses to meet their obligations. 

Second, the principle of utmost good faith 

Insurance special relationship between the people in the insurance practice of growing importance of the principle of good faith, ask the parties to the contract to maximize compliance with this principle, it says the principle of utmost good faith. Specifically request that the parties did not conceal the fact that not each other of fraud, with the utmost integrity to fully implement their respective obligations, the other side to ensure the realization of the right. The principle of good faith is the largest contract both parties must adhere to the basic principles, its performance for the following areas : 

(1) To fulfill this obligation either truthfully

It is the largest of the principle of good faith requirements of the insured. As the face of the general insurance policy holders is impossible to understand the subject of insurance, and therefore, the insurance policy holders, should be enough to affect the insurance underwriting to decide whether or not, can affect insurers determine insurance rates or increase the special provisions of the insurers to accurately inform . Insurance practice generally limited to single-insured, the insured single questioned the contents of the insured must be filled out accurately, in addition to the insured does not assume any tell this obligation. 

Intentionally or insured by the fault does not faithfully fulfill this obligation to bear the corresponding legal consequences, including insurance can thus lifting insurance contracts; If the accident occurred insurance, insurers such as the right to refuse payment. 

(2) Note to fulfill obligations 

This is the greatest insurance for the principle of good faith on the request. Because the insurance contract by the insurer prior development, said policyholders only the choice to accept or not, usually lack insurance policyholders knowledge and experience, therefore, concluded an insurance contract, the insured person to be insured under the contract terms. Insurance for the general terms of the contract, insurers note should fulfill obligations. The insurance contract for exemption from liability, insurers should be clear obligations to fulfill, not clearly define the responsibility not to remove the provisions to take effect. 

(3) To fulfill obligations to ensure the swift currents

Here’s a guarantee, and refers to insurance policyholders who pledge to comply with the insurance act or omission of certain rules or guarantee the authenticity of a particular issue, and that is what the principle of utmost good faith to policyholders requirements. 

The insurance guarantees there are two kinds of explicit assurance that the terms of insurance contracts in the form of the insurance contract, to express it. If motor vehicle insurance have to comply with traffic regulations, safe driving and vehicle maintenance and do maintenance work provisions, once the agreement takes effect, it is an insurance policy holders the right to ensure that policyholders have to act or omission binding. Another is a tacit assurance that such assurances in terms of the insurance contract did not arise often prevalent in the community or recognized code of conduct for certain criteria, as this will ensure that policyholders act or omission of the commitment, and are thus implied. If additional property insurance theft insurance contracts, although not expressly provided by the insurers when they go out the doors and windows should be closed, but it is common sense should be done under the act, which recognized the common sense, it is an implicit guarantee that the reason people become insurance underwriting basis, so that people are not insured Close doors and windows are incurred in the thefts, insurance does not assume liability insurance.
(4) abstained and the prohibition of defense 

This is the greatest insurance for the principle of good faith on the request. The so-called abstaining, means insurers to abandon legal or insurance contracts of certain rights, such as the right to refuse coverage, lifting insurance contracts rights. The so-called no defense, and abstained close [AFP]

[AFP]

Links are the means insurers now renounced that right, not to the insured person or beneficiary again advocated such a right. 

3, insurance interests 

China’s “Insurance Act” Article 11 states : “The subject of insurance policyholders should have insurance benefits. On the subject of insurance policyholders do not have the interests of insurance, insurance contracts invalid. Insurance benefits is the subject of insurance policyholders have the legal recognition of their interests. “Under this provision, Major insurance benefits has two implications : First, the insured insured, the insurance must be marked

With insurance benefits, and insurance may become a form of gambling, losing their economic loss compensation, to provide financial help function. Secondly, whether the insurance interests of the insurance contract to judge the validity or invalidity of the fundamental basis, the lack of insurance benefits Elements of the insurance contract, they will naturally become legally effective. 

(1) property insurance benefits 

Property insurance is the subject property and its related interests, the interests of its insurance policyholders is the insurance is the subject of legal recognition of the economic benefits. Property insurance interests should have three elements : 

(1) It must be legally recognized and protected the legitimate interests. 

(2) It must be economic interests. 

(3) It must be determined by the economic interests. 

(2) Personal insurance benefits 

Personal insurance is the subject of the life and physical, its insurance benefits to policyholders is insured by the life and health of the economy is at stake. “Insurance Act” section 52 provides that can be drawn, personal insurance interests with the following characteristics : 

(1) the legal recognition and protection of personal relationship. 

(2) personal property relations with the contents. 

(3) constitute insurance interests are economic interests. 

Economic stakes Although it is impossible to estimate with money, but insured and the insurance contract insurance, they can agree to the amount determined. 

Insurance interests in the insurance contract formation, the process of implementation, there are different applicable requirements. Property insurance, policyholders should be insured at the right insurance is the subject of insurance benefits; After the establishment of the contract, the insured person may object to the sale of insurance, transfer, gift, inheritance and change the situation, therefore, when the accident occurred insurance, the insured person should be subject to insurance with insurance interests, whether insurance policyholders interests are irrelevant. Personal insurance, the insured, the insured must be insured with the insurance interests, as regards accident insurance, the insured still have insurance interests, irrelevant. 

4, damages the principles 

This is a unique property insurance principle means that the insurance after the accident, the insured person within its sphere of responsibility of the insured person’s actual loss for the principle of compensation. Its contents are mainly in the following points : 

(1) compensation insurance in the areas of responsibility, namely insurance only in the insurance contract within the time limit to the amount of insurance agreed to limit the right agreed in the contract of dangerous incidents compensation for the loss. Insurance period, the amount of insurance and liability insurance constitutes compensation insurance were the indispensable elements. 

(2) the amount of compensation should be equal to the actual amount of loss. In accordance with the norms of civil compensation should be equal and loss, the insured person can receive from the insurance on the additional interests and insurers is the amount of compensation, insurance is only subject to the amount of actual loss. In other words, insurers should be just compensation insurance subject to insurance recovery accident occurred before the state. 

(3) loss of the insurer’s obligations. Accordingly, the proposed insurance claims, the insurance people should take the initiative by the rapid, accurate and reasonable principles, as approved loss, the claimant compensation agreement and to fulfill obligations; Insurers failure to meet these obligations, in addition to the premiums paid, should be compensated by the insured the loss of this. 

5, the principle of proximate cause 

The principle of proximate cause is the meaning of : damage results with dangerous incidents occur with a direct causal relationship, if dangerous incidents belong to the scope of liability insurance and insurance on compensation or benefits. In real life, the damage may result from a single cause or a result. Only because relatively simple, because more is more complex, mainly in the following situations :

(1) Multi-by simultaneously. If simultaneous incidents are insurance, insurers assume responsibility; If one accident insurance both also have the responsibility to remove the matter, the insurance only assume insurance losses caused by the accident. 

(2) for more consecutive. More than two consecutive disasters damage caused by the recent general (after), the most effective reasons for the immediate, if they belong to the accident insurance, the insurance payment to bear responsibility. But the result is a direct antecedent of the natural, reasonable or natural continuation of a row, as immediate past. 

(3) Multi-by intermittent occurrence. After that between the whys and not necessarily causal relationship, independent of each other. This deal with the situation alone for roughly the same, that is, all insurers as an independent risk accident insurance whether the accident to decide whether payments.

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